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Electrosurgical devices are used for minimally invasive surgeries to cut, coagulate and fulgurate tissues. They help in reducing blood loss during surgeries and quicken the healing time, leading to shorter hospital stays. Various forms of electrosurgical devices including monopolar devices, bipolar devices and ultrasonic devices. Monopolar devices are mainly used for cutting and coagulation of tissues. Bipolar devices prevent current from traveling through patient’s body by using two electrodes close together at the surgical site. Ultrasonic devices use ultrasonic energy for cutting and coagulating soft tissues. Some common applications of electrosurgical devices include general surgeries, gynecological surgeries, urological surgeries, cardiac surgeries, cosmetic surgeries, orthopedic surgeries, neurosurgeries and others.
The global Electrosurgical Devices Market is estimated to be valued at US$ 6,892.4 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Emerging demand for minimally invasive surgeries is one of the key drivers for electrosurgical devices market. Minimally invasive surgeries are less painful, have shorter recovery periods and result in fewer scars or smaller incision compared to conventional surgeries. Growing preference for such surgeries are favoring the adoption of electrosurgical devices which help surgeons perform precise cuts and coagulation through small incisions or natural body openings during minimal access procedures. Moreover, technological advancements in electrosurgical devices with additional features like adjustable power controls and accessories for specific applications are also fueling the market growth.
Segment Analysis
The electrosurgical devices market is dominated by the bipolar electrosurgical devices sub-segment. Bipolar electrosurgical devices have gained popularity over monopolar devices as they reduce electrical current passage through the patient’s body which causes less thermal injury to tissues. These devices allow focused energy delivery to tissues with minimal collateral tissue damage. Hence, most surgical procedures today use advanced bipolar devices for hemostasis and coagulation providing a clear view of the operating area.
PEST Analysis
Political: Regulations regarding safety of electrosurgical devices are becoming more stringent globally which is boosting innovation. However, lengthy approval processes increase costs.
Economic: Growing geriatric population undergoing various surgeries and rise in chronic diseases are driving demand for electrosurgical devices. However, budget constraints in government hospitals of developing nations impedes market growth.
Social: Increasing incidence of lifestyle diseases and surgical procedures increases adoption of electrosurgical devices. However, social stigma and limited awareness in remote regions restrict market revenues.
Technological: Advancements in bipolar technology, vessel sealing devices, smoke evacuation systems enhance precision and safety of surgeries. Incorporation of robotics, artificial intelligence, and big data analytics will transform surgical workflows.
Key Takeaways
The global electrosurgical devices market is expected to witness high growth supported by increasing surgical volumes and technological innovations.
Regional analysis: North America dominates the electrosurgical devices market owing to large target patient population, favorable medical reimbursements, and presence of key players. Europe trails second due to established healthcare infrastructure and government support for R&D activities in medical device technologies. Asia Pacific is expected to witness fastest growth fueled by growing healthcare awareness, improving accessibility and rising medical tourism.
Key players operating in the electrosurgical devices market are Bovie Medical Corporation, Medtronic Plc, BOWA-Electronic GmbH & Co. KG, KLS Martin, B. Braun Melsungen AG, Conmed, Olympus Corp., Boston Scientific Corporation, Erbe Elektromedizin GmbH, Symmetry Surgical Inc., Encision Inc., Gala Therapeutics, Inc., Apyx Medical Corporation, and Johnson & Johnson Services, Inc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
